{"data":{"id":"us-nm/21-27-5","jurisdiction":"us-nm","citation":"21-27-5","heading":"Distributions from the fund; approval by the board required.","body":"A. A qualifying institution shall make application to the board for distribution of its allocation, or any part thereof, only for any of the purposes enumerated in Section 4 [21-27-4 NMSA 1978] of the Two-Year College Maintenance Act.\nB. No distribution shall be made to any qualifying institution until the board [commission [department]] has approved the distribution of a specific amount. The board [commission [department]] may reduce the amount of any distribution to any qualifying institution. In taking such action, the board [commission [department]] shall set forth its reasons for such action and report its actions and reasons to the responsible governing board of the institution.","path":["Chapter 21 - State and Private Education Institutions","ARTICLE 27 Maintenance for Two-Year Colleges"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18521/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"6ad1df0df431657b34e0bb4af828ebe7468ee21571d2cea1aa890d47382ff091","source_id":"us-nm","stale":false,"prev":"us-nm/21-27-4","next":"us-nm/21-28-1"},"notice":"GroundRules: Original legal text. Not legal advice."}